AMEX 61 Day increase DENIED

I often see posts about approvals, so for balance I wanted to post about my denial.

Back in early September I had a very successful app spree that added 5 new prime cards to my credit file and tripled my available credit.

One of the cards was an AMEX (vanilla) Blue for $3000. I had requested $7000 in hopes that they would counter it and at least give me $5000, but instead I got the dreaded "7-10 day" message.

When I last checked my REAL FICO scores back in October, they were all in the 705-725 range. I imagine that I have a high internal risk score with AMEX though as I've barely run $100 through the card (I've been using my other new cards because they give me cash back, have better rewards than useless MRE points, and have great sign on bonuses).

I plan to run a few hundred more dollars through the card before I convert it to a BCE so that I can get the signon bonus, then I'll use it heavily for the cash back.

I'm hoping to get a CSP in the first quarter of 2013, but now I'm a little worried as my highest limit is $4000 (US Bank) and I've heard that Chase likes to see you have an account with $5K+ to get a CSP approval.

I'm not upset as I'm not a credit addict. I just saw this as the easiest opportunity to get over the $5,000 limit hump.

Re: AMEX 61 Day increase DENIED

I would maybe up your spend with your AMEX. I know some people say it isn't necessary but how many people (like myself) do you see with a high CL with Amex. I put almost all of my spend through my amex products and have for the last 2 years. Spending money through Amex and paying it in full lowers your internal risk yielding to higher limits.

She said that my my utilization was too high and that my FICO was too low.

I found this all strange because I bought my FICO scores in late October and they were about 20-30 points higher than what she "quoted" and I did have a large purchase that I had paid off before I applied, but it didnt show until later (I think).

I'm guessing that they used an old report to deny me? I could probably ask them to reconsider, but I applied for so many new accounts, I don't want another hard pull.

She said that my my utilization was too high and that my FICO was too low.

I found this all strange because I bought my FICO scores in late October and they were about 20-30 points higher than what she "quoted" and I did have a large purchase that I had paid off before I applied, but it didnt show until later (I think).

I'm guessing that they used an old report to deny me? I could probably ask them to reconsider, but I applied for so many new accounts, I don't want another hard pull.

THAT could be part of the issue even though they're not saying so. AMEX can be touchy with new recent accounts (anything with in the last 6 months esp). Couple that with higher UTIL than they are comfortable with when they look at other info and they have a number of reasons to list for denial.

Don't feel bad however, I was denied my CLI on the phone as well a while back. Not going to ask again right after the 6 month mark is up though, I can't even use their 0% offer properly or they can frown on that as well (as we all know, that can be an issue with them but not a given).

I am sure people are much more willing to post their success with the 61x3 request than they are a denial (I think I posted long ago that mine was a no go). Which is ok, between Discover and Freedom I've made over 600 cash back compared to what AMEX BLUE or ZYNC offers. AMEX was even a bit misleading about the "bonus" I got with BLUE as far as I was concerned and I told them so too (23,000 points was only worth 120ish in "statement credit").

Don't get me wrong, I still like my AMEX's for what they do, give great protection and CS with purchase issues etc and retaining my oldest credit age, but other than that, they're not really worth the worry they cause some people. I can tell you for a fact, they have changed a bit, and not for the good, in the last 24 years.

Re: AMEX 61 Day increase DENIED

It's been said Amex uses the latest inquiry they have on file. If that is the case, and I don't if it is, then it would make sense to watch your reports and see when Amex looks at your report. Provided you are eligible for a cli review, I would request right after they pull a "ideal" report.

Re: AMEX 61 Day increase DENIED

I am sure people are much more willing to post their success with the 61x3 request than they are a denial (I think I posted long ago that mine was a no go). Which is ok, between Discover and Freedom I've made over 600 cash back compared to what AMEX BLUE or ZYNC offers. AMEX was even a bit misleading about the "bonus" I got with BLUE as far as I was concerned and I told them so too (23,000 points was only worth 120ish in "statement credit").

Don't get me wrong, I still like my AMEX's for what they do, give great protection and CS with purchase issues etc and retaining my oldest credit age, but other than that, they're not really worth the worry they cause some people. I can tell you for a fact, they have changed a bit, and not for the good, in the last 24 years.

This is why I'm posting my denial stories...because if you look through the threads there are way too more approval stories. You would think that no one is getting denied these days.

I'm fine with the credit that I have for the most part, so this isn't a heartbreaker, I just want something over that $5K line.

Re: AMEX 61 Day increase DENIED

I am sure people are much more willing to post their success with the 61x3 request than they are a denial (I think I posted long ago that mine was a no go). Which is ok, between Discover and Freedom I've made over 600 cash back compared to what AMEX BLUE or ZYNC offers. AMEX was even a bit misleading about the "bonus" I got with BLUE as far as I was concerned and I told them so too (23,000 points was only worth 120ish in "statement credit").

Don't get me wrong, I still like my AMEX's for what they do, give great protection and CS with purchase issues etc and retaining my oldest credit age, but other than that, they're not really worth the worry they cause some people. I can tell you for a fact, they have changed a bit, and not for the good, in the last 24 years.

This is why I'm posting my denial stories...because if you look through the threads there are way too more approval stories. You would think that no one is getting denied these days.

I'm fine with the credit that I have for the most part, so this isn't a heartbreaker, I just want something over that $5K line.

And I have little doubt you'll get your wish eventually, maybe even via AMEX 6 or so months from now (for them that is, others could be sooner). If I did (not with AMEX yet that I know of, only 3.5k there) I'm sure you can.

Not to prompt an app spree (even 1 app) but have you considered Discover if you don't already have it?

Re: AMEX 61 Day increase DENIED

It's been said Amex uses the latest inquiry they have on file. If that is the case, and I don't if it is, then it would make sense to watch your reports and see when Amex looks at your report. Provided you are eligible for a cli review, I would request right after they pull a "ideal" report.

+1

Very true, I noticed that with my CLI request on the denial letter, as well when I called to ask about said report date on the phone.

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